CORRUPTION | Consumer bureau reconsidering fine against Wells Fargo for mortgage fees: report

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CORRUPTION | Consumer bureau reconsidering fine against Wells Fargo for mortgage fees: report

CORRUPTION | Consumer bureau reconsidering fine against Wells Fargo for mortgage fees: report

THE HILL-

The acting head of the Consumer Financial Protection Bureau (CFPB) is reportedly mulling whether to go ahead with a multimillion-dollar penalty for alleged mortgage fraud by Wells Fargo.

Reuters reported that the CFPB and Wells Fargo had been hashing out a settlement over the bank charging potentially more than 100,000 mortgage borrowers unnecessary fees to lock in low mortgage rates.

Acting CFPB Director Mick Mulvaney, the White House budget director, said last week he’d review each of the 14 pending enforcement actions left to him by former Director Richard Cordray.

[THE HILL]

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